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Bitcoin as a safe haven? More a speculative bet, market players say

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Bitcoin's recent gains as stocks plummeted on U.S.-China trade tensions ref...

. A week after the U.S. president tweeted in May that he would raise tariffs, bitcoin rose 41% against a 3.8% fall in U.S. stocks.

In times of market fluctuations, investors tend to move small proportions of their portfolios to bitcoin, said Marcus Swanepoel, CEO of London-based cryptocurrency platform Luno. “If you’re wrong, you’re not losing lots of money, but if you’re right we are talking outsized returns,” said Swanepoel.FILE PHOTO: A customer purchases bitcoins sold at a tobacco shop at Rueil-Malmaison, France, January 8, 2019. REUTERS/Charles Platiau/File Photo

 

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